Three Simple Ways to Hack The 52 Week Money Challenge

simple ways to hack the 52 week money challenge

The 52 week money challenge is a simple and powerful way to not only start building up a nice little nest egg but, more importantly, transform your financial habits. With this simple challenge, you start becoming a person who spends with purpose instead of just buying this and that without much thought. But, what looks like a simple challenge is actually still challenging for anyone who is not used to being so aware of their money.

Simply put, the 52 week money challenge is a way to challenge your self to save money.  It works using a snowball approach. You start on week one by saving $1, then on the second week, you save $2. On the third week, you get $3.  By the end of the year you should have a total savings of $1,378.  Here is a nice visual.


52 week money challenge
So here are 3 hacks to make sure you stay on track for the full 52 weeks.

#1 Start Right Now
Take that literally. Take a break from this article, go log in to your bank account and transfer $1 from your checking account to your saving account.

Done? Good. You have now successfully completed the first week of your challenge! That wasn’t so bad was it?

On week 2, you’ll deposit $2 into your account. And you’ll keep up this pattern, adding $1 to the total each week (so in week 52, you will deposit $52). The great thing about this is that it literally doesn’t matter which week you start in or what day of that week you start. It could be 2am on Friday night in the middle of August. That’s fine. Start now. By this day next year, you’ll have saved more than $1,000!

#2 Decide How to Spend It
While working toward your goal, one of the best ways to stay motivated is to dream about and envision that goal. In 52 weeks, you are going to have $1,378 that you wouldn’t have had if you didn’t do this.

What do you want to do with that? You can take a trip somewhere, go on a shopping spree, pay off some debt, keep it as an emergency fund, or anything else that comes to mind. You don’t have to pick just one thing, either. You could choose, for example, to go on a shopping spree with half the money and hold on to the rest to continue building your savings. The important thing is that you visualize what you are going to do so that you can enjoy the rewarding feeling of moving one step closer to that vision each week.

#3 Plan Ahead
One of the simple ways to hack the 52 week money challenge that you can apply in a couple different ways. First of all, plan ahead by scheduling a weekly appointment to make the transfer. Do it at the same time each week to really ensure that it becomes a habit.

The other way that you can plan ahead is by deciding in advance where the savings will come from. For example, in the first week, where will that dollar come from? This will be easy. You can just skip buying a pack of gum or buy a generic brand food that is $1 less than your name brand. Each week, take a look at your normal spending habits and find something you can cut or change in order to reach your weekly goal. By week 52, you’ll need to find a way to cut $52 from your budget for the week. So each week, you will have to work a little bit harder to get the money. But this helps you to gradually build up the willpower to avoid splurges and wasteful spending!

Final Word
By the end of this challenge, you will have saved $1,378! And you did it all with just a few dollars at a time. By using these simple ways to hack the 52 week money challenge, you are not only accomplishing the 52 week challenge flawlessly but ensuring that these 52 weeks turn you into a more conscious and smart spender! Finally, if you’re interested in more on the 52 week savings challenge, consider checking out Saving Advice’s article on the subject.

Kostas Chiotis blogs about the most important issues relating to economics. You can read his articles at FinanceBlogZone.com and follow him for more updates and information on Facebook and Twitter.

Image URL:  Pixabay

What is Conor Maynard’s Net Worth?

Conor Maynard's net worth

Conor Maynard has become one of my favorite musicians to listen to in the mornings. It started out as seeing his videos on Facebook in the morning and giving them a listen to subscribing to his Youtube channel and giving his sweet, sweet voice a listen each morning.

Maynard isn’t what many people would consider a “mainstream” pop star, though you’ve probably listened to at least one of his cover songs. The 24-year-old singer has certainly made a name for himself on the web but what is Conor Maynard’s net worth and how much cash has he raked in from his online music career?

About Conor Maynard

Conor Maynard is not a United States citizen. He was born in Brighton, England on November 12, 1992. From a very young age Maynard and his parents realized that he was musically inclined. He always enjoyed singing other artist’s songs.

When he turned 14 years old Maynard decided to join the video streaming giant Youtube. His first Youtube video was of himself singing “Breathe” by Lee Carr. The rest is history. Since then he’s uploaded tons of cover songs like “Breathe.” He and his friend Anthony Melo pair up on songs from time to time as well. Maynard sings the lyrics while Melo covers and rap in the song. The pair work together perfectly.

After posting videos on Youtube consistently Maynard was finally “discovered.” Pop star Ne-Yo found Maynard on Youtube and reached out to him as a mentor. Shortly after partnering with Ne-Yo Maynard signed to EMI/Parlophone and Turn First management to become a fully-developed artist.

Now his Youtube videos get millions of views each but how much is he making? What is Conor Maynard’s net worth?

Conor Maynard’s Net Worth

Conor Maynard's net worthConor Maynard’s net worth is nothing exciting. The young star hasn’t stacked up much of the money he’s made from Youtube. Justin Bieber, who Maynard is often compared to, has a net worth of over $200 million. Maynard’s net worth sits at about $375,000. However, Maynard is continuing to grow as an artist and become more popular over time so there’s a chance his net worth could explode in the years to come.

For now though the bulk of Maynard’s overall net worth comes from the money he makes through advertising on Youtube. He’s got more than 4 million subscribers on his Youtube channel and, as his fan base grows, he continues to sell more tickets to shows and more singles. Most of Maynard’s singles have sold at least 100,000 copies each.

Conor Maynard doesn’t plan on slowing down any time soon either. This year he plans to continue his work on Youtube as well as perform at a number of live shows. In addition to his cover songs he is planning to release some music of his own in 2017 as well. Each of these will likely continue to contribute to the young man’s net worth.

Maynard is similar to many of the other Youtubers out there except he is still getting his start. Don’t be surprised if you see his name or his wealth rise in the next few years.

Photos: Celeb Mix and Kurrent Music

Need A Longer Term Pay-Day Loan? Here’s How To Go About It…

hiringPayday loans are an essential comfort when you’re facing an unplanned financial burden, and it’s not the end of the month yet. They can mean the difference, for some, between life and death. Payday loans are credit facilities made available to intending borrowers by credit brokers, usually not very large, payable by the next payday, or spread over several paychecks.

They are crucial to people who are not financially strong or have invested most of their monthly income in another venture and need to access cash fast before the next payday. These loans are much more accessible from credit brokers and lenders than banks, as it would take you a shorter amount of time to apply for and access the loan, working with a certified credit broker than it would if you were to approach a bank for instance.

A huge chunk of the people who need a payday loan usually need it almost immediately, and approaching a bank will take a while and could be considerably more expensive.  For instance, accessing an overdraft from your bank even when the overdraft has been mutually agreed and authorised  by the bank beforehand, can be a risk more for a borrower with a slim financial profile, because of the atrocious interest rates charged by the banks.

Applying for and getting a payday loan from credit brokers, on the other hand, is fast (can be done online), and more lenient with the interest rates. But for some, it is not all about the loan application processing time, or the interest rates. They are also worried about how much of their monthly paycheck gets sliced off and ferried to the lender. Naturally, these people seek repayment plans that enable them to carry fairly on with their lives repaying a loan without having to significantly cut down on personal costs or readjust their spending all that drastically.

So, the main demerit of payday loans from most lenders is that they have short repayment periods and if you do not carefully cross check with the agent of the company you’re dealing with, making sure you have every single detail of the contract clear, you could easily walk into a rather uncomfortable few months, straining to clear the loan.

Take the case of a client blinded by the urgent need for extra cash. She approaches a credit broker and is surprised at how quickly her application is processed and her loan paid out. She quickly solves her pressing issue and is again able to concentrate at work, and at play. It all feels like a walk in the park, that is until the first repayment notification comes in just as payday approaches. Naturally, she is taken aback by how much of her paycheck will be used to service the loan, and although she is making this payment once, it guarantees a rather tight period in the coming weeks.

Although it is partly this borrower’s fault for not going through the documentation, as a general rule, it is better to find deals with longer term repayment so that when it spread across several paychecks, it reduces the shock value of your monthly paycheck. So, how do you find a longer term paycheck from a reputable lender with no funny stories or caveats or hidden charges in between?

The short answer: apply for a payday loan with creditpoor.co.uk. Creditpoor is a reputable loan lender with an impressive panel of lenders and is dedicated to helping you avoid the hassle of picking a lender for your loan with your likely minimal experience with money lenders. It is their task to find and acquire the best deals on payday loans for their clients. With Creditpoor you can access a payday loan with a repayment period of up to 12 months at a fixed repayment amount.
This is possible because of the strong relationship they have developed with the most credible lenders in the UK over time, as well as expert knowledge and manoeuvre in the industry. As long as you are 18 and above, have a steady paying job, and are resident in the UK, you are eligible for this 1 2-month pay-day loan.
Longer term payday loans often attract a higher interest rate. The best way to obtain one really is to work with a credible loan lender with a reputation for transparency and easy to understand terms and a friendly customer service. That way, you know exactly what you’re getting into and can be sure to receive technical support if anything goes amiss. Not to mention you don’t have to squirm under the weight of hefty paycheck slices.

 

 

 

The Downsides of Debt: The Insidious Side Effects of Financial Stress

calculator-1156121_640Financial trouble is one of the most stress-inducing things a person can go through. You don’t know how you’re going to find the money to pay your bills, nothing you do seems to work and you may even lay awake at night worrying about it.

While some debt is good, too much debt can have ruinous consequences on your present lifestyle and your future. You want to avoid getting into too much bad debt by spending less on things that lose value quickly and by paying off whatever you can every month. If you fail to do so, you may find out the hard way all of the negative effects that serious debt can have on you and your family. Here are a few things you may not have thought about when it comes to having too much debt.

Your Life Goals Get Postponed

Nearly everyone has a long-term life goal that they want to achieve. If you haven’t thought about it, think about where you’d like to be in 5, 10, or even 20 years. Having too much debt can force you to postpone those goals or make the outright impossible to achieve.

Carrying around a lot of debt that you just can’t seem to put a dent in can have far-reaching consequences. If you want to buy a house of your own one day or spend some time traveling the world, it’s very hard to do so when you’re thousands — or hundreds of thousands — dollars in debt. There’s just no wiggle room.

If you have long-term goals that you want to achieve, start working toward them by avoiding large purchases for while. This will prevent you from falling further into debt while at the same time freeing up some money to pay off your current debt.

Debt Can Cause Relationship Problems

Not only can debt be a problem for you financially, it can also cause emotional problems that spill over into your professional and personal relationships.

When you become stressed out over money, you start to worry about it constantly: the laying awake at night, the irritability that comes with being unable to see a way out. These worries can eventually put a strain on your relationships, causing you to lash out at friends or family members when they wonder why you can’t go out with them or why you won’t buy them something they want. This can start a vicious cycle that puts a strain on those relationships and, in the worst cases, cause those relationships to fail.

To avoid this problem, be honest with your friends and family when it comes to your debt. Oftentimes, those who care about you will support you in your troubles and they may give you the motivation you need to finally get out of debt for good.

Bad Debt Causes More Debt

Another effect of having too much debt is that it very possibly will cause you to incur more, even as you try to fix the problem.

When you have too much debt, it affects you credit score, which will cause you to be declined for any loans you may need and the best credit cards will no longer be available to you. This means that if you need cash quickly, you will be paying a higher premium because your credit score is lower, forcing you to pay higher interest rates which will cost you even more money.

Keeping your credit score high is the key to landing loans and credit cards at good rates, but it’s very difficult if you have a lot of late or missed payments. However much debt you have, try to make at least the minimum payment every month to keep your score up.

Your Wages Could Get Garnished

Most states in America allow companies to garnish your wages directly if you owe them money and have failed to make payments. As you can probably guess, this is a terrible thing to happen, especially if you want to pay down your debts.

Having less money coming in is in no way going to help relieve your financial stress. And if your wages are docked, you could hundred of dollars each paycheck to those you owe money to.

In order to avoid this, talk to the companies you owe money to and see if they will work with you. They want their money as much as you want to get out of debt, so they may be willing to lower payments or even lower the total money you owe them.

Don’t let debt stress you out. Do whatever you can to pay today.

Isabel O’Connor writes for a variety of personal finance blogs, sharing her tips and knowledge on how to manage, and escape debt.